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20121115
20121115
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, larry, that was at 6600 in march. 2009 but doubled to 13,000 under the obama administration? >> well, it was until he got re-elected. >> yeah. >> people think he's turning against them. >> i remember hearing the same argument from you in march of 2009 when the stock market was at its low, and you said that the obama administration policies were going to kill the stock market. and instead, it doubled. so people invested and made a ton of money. the reality, larry, is that elections have consequences. the election is over. the republicans lost. it's time to get over it and move on. that means we have to come together and create some sort of compromise. but it doesn't mean the republicans get their way and they don't move it all to the left. there has to be some movement to the center on both sides. the president's already indicated that in terms of spending cuts, which he said repeatedly. and what the democrats -- >> i never heard spending cuts. i never heard anything about spending cuts. he never heard -- >> he may not have said it today but there were references. >> like i said, you
to read the market as an indicator should have been the most enthusiastic supporters of the obama administration since the market doubled from march of 2009 when the president was just taking over until a couple weeks ago. i don't remember people saying e o', look at the market, how wonderful obama must be. secondly, i think what you're seeing now is an artificial depression in the market because of the uncertainty. i believe that it does not reflect an erosion in fundamentals. in fact, i think the economy has been doing reasonably well, particularly our economy compared to some of the rest of the world. there's some uncertainty about europe. it is important for us to deal with the tax and sequestration issues. i believe that once we have done those, this drop will come back up. that is, i think this is an understandable reaction to the uncertainty, not a serious sign of a decline in the economy. >> absolutely. you're absolutely right. i think it's all about this uncertainty about where tax rates will be. what are the odds we're going to see a deal before year end to give this mar
and believes that the 39.6 number is still on the table and that the can democrats and the obama administration still have the mandate. >> you're talking higher marginal rate ps p. >> yes. he doesn't believe there are not enough deductions. so many of the ceos that came out of that meeting seemed to be wink winwink, nod nod, says may he's not just talking 35%. deductions plus. >> i thought for sure raising the rate is on the table. that there will be no deal without raising the rate on the wealthy. >> the idea is raising the amount of taxes that wealthy pay and you can get there two different ways. one is by raising the marginal rate, one is raising the effective rate. >> but i don't. >> i've heard that as a way of stopping raising the rate. i don't think there's any discussion -- there will be no deal without eliminating the burke tax cuts on the wealthy. >> i think people are coming around to that view. >> but this is the republican view. >> but i'm saying -- >> if you listened to the president carefully last friday -- >> i'm not ed advocating either friday. >> the president last friday -- th
years as it relates to the obama administration is not positive for stocks. they don't want to say it. they don't want to write it. but you can find it everywhere. the evidence is mounting all over the street that the last two weeks there is a massive outside allocation shift as a result of it. this is what i want to say. i find it very disturbing when people walk into this building, come on air, talk about the portfolios. if you're a loan only manager you have to try to find stocks that are working but, remember, there's nothing wrong with holding cash or saying it like you think it is. i want to point something out here. this is the wellington letter. he writes he's been doing this for 35 years. this is what he said in the edition that came out yesterday. bat ten down the hatches. protect your assets, your business, your job. this is no longer a theoretical exercise. i want to tell you, carl, i find it disgusting that a lot of people are saying that to their clients and they're saying that across the board but they're not putting it in print. if you're saying something like that, ha
it can be done. >> president obama will begin formal budget talks with house and senate leaders tomorrow. he met with several ceos at the white house yesterday. administration officials say he told them any deficit deal must be balanced with higher taxes for the wealthy as well as retitlement reform. >>> now let's talk with senior u.s. economist at barclays capital here in london. because you wanted to tell us just what they're going to do to resolve the fiscal cliff. maybe you have some answer that seems to have eluded everyone else. >> our view is probably similar to everyone else's in that there's strongen send difference to come to an agreement. the timing is the issue and the question is do we go over the cliff first before we come back. so as the president said yesterday, he's willing to look at options, but he's pretty skre skeptical that we can get the number that is he wants without a tax increase. so the outcome of the election does make it more likely that we test the cliff that we go over, tax rates go higher and we hope that incentivizes an outcome. >> this is one scenario t
Search Results 0 to 4 of about 5

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